Les Miserables

Prospect Theory

If utility theory doesn’t work, then what does? One alternative is prospect theory, developed by the author. Kahneman’s prospect theory challenges utility theory by showing that when we make choices, we don’t always act in the most rational way. Imagine these two scenarios for example: In the first scenario, you’re given $1,000 and then must choose […]

Count Your Blessings

You may not have a first class career. But you have a first class spouse, first class family, first class friends, first class dog …..

Listen and Understand

Seek to understand rather than to be understood. Seek to listen rather than to be heard.